Building consents for new homes were relatively flat in January 2018, following recent volatility, Stats NZ said.
In seasonally adjusted terms, building consents for new homes rose a modest 0.2 percent from December 2017, after rising 9.4 percent in November 2017 and then falling 9.5 percent in December 2017.
“Stand-alone houses drove the small growth in new home consents in January 2018,” construction statistics manager Melissa McKenzie said. “Home consents have been volatile in recent months but overall, consent numbers are fairly flat, and levels remain below both recent and historic peaks.”
In actual terms, 1,916 new homes were consented in January 2018. January is typically a quiet month for consents, however January 2018 was up on the previous few. January 2018 home consents were below the most recent peak of 3,262 in November 2017, and less than half the October 1973 number, when 4,081 new homes were consented.
Auckland consented 718 new homes in the month of January 2018, compared with an average of 900 a month over the past year. In the year ended January 2018, Auckland consented 11,073 new homes.
Overall, there were 31,251 homes consented in New Zealand in the year ended January 2018, up 3.7 percent from the previous January year, with the growth driven by more consents for apartments.
Source: Stats NZ